question archive The demand for good X is estimated to be QXd = 100 − 2PX + 5PY + 4M + AX, where PX is the price of X, PY is the price of good Y, M is income, and AX is the amount of advertising on X
The demand for good X is estimated to be QXd = 100 − 2PX + 5PY + 4M + AX, where PX is the price of X, PY is the price of good Y, M is income, and AX is the amount of advertising on X
Subject:EconomicsPrice: Bought3
The demand for good X is estimated to be QXd = 100 − 2PX + 5PY + 4M + AX, where PX is the price of X, PY is the price of good Y, M is income, and AX is the amount of advertising on X. Suppose the present price of good X is $50, PY = $100, M = $10,000, and AX = 1,000 units. Based on this information,
Question 10 options:
Quantity demanded of X = 40,700 units and X is a normal good
Quantity demanded of X = 41,500 units and X is a normal good
Quantity demanded of X = 40,700 units and X is an inferior good.
Quantity Demanded for X = 41,500 units and X is an inferior good
